Bitcoin Breaks out after Ranging, BTC Buyers Target $23k
Past Performance of Bitcoin
The Bitcoin price is firm at spot rates, adding double digits in the past trading week and notably above the primary liquidation level at 22k. Since the break above 22k is with increasing trading volumes validating the bullish engulfing bar of July 13, traders may search for entries in lower time frames. With this, buyers appear to be in control, and prices are trending above a critical reaction level, signaling strength in the short term.
#Bitcoin Technical Analysis
Currently, BTC prices are turning the tide, bottoming up after strings of discouraging lower lows. As bulls take charge, unwinding losses and thrusting prices back to the first half of the June 2022 zone, aggressive traders may search for entries. Thus far, BTC prices appear to be aligning with the upper BB, a hint of strength, suggesting strength with further supporting confirmation being the wide-ranging, bullish breakout bar of July 18. The immediate target will be
23K, the main trigger line, and later 
27K, the June 2022 highs.
What to Expect from #BTC?
Buyers are confident, and price action is relatively firm after deep losses. Since the immediate term trajectory is emerging to be bullish with decent participation, traders may find loading opportunities only valid above the 19.5k support level.
Resistance level to watch out for:23K
Support level to watch out for: 19.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
The Bitcoin price is firm at spot rates, adding double digits in the past trading week and notably above the primary liquidation level at 22k. Since the break above 22k is with increasing trading volumes validating the bullish engulfing bar of July 13, traders may search for entries in lower time frames. With this, buyers appear to be in control, and prices are trending above a critical reaction level, signaling strength in the short term.
#Bitcoin Technical Analysis
Currently, BTC prices are turning the tide, bottoming up after strings of discouraging lower lows. As bulls take charge, unwinding losses and thrusting prices back to the first half of the June 2022 zone, aggressive traders may search for entries. Thus far, BTC prices appear to be aligning with the upper BB, a hint of strength, suggesting strength with further supporting confirmation being the wide-ranging, bullish breakout bar of July 18. The immediate target will be
23K, the main trigger line, and later 27K, the June 2022 highs.What to Expect from #BTC?
Buyers are confident, and price action is relatively firm after deep losses. Since the immediate term trajectory is emerging to be bullish with decent participation, traders may find loading opportunities only valid above the 19.5k support level.
Resistance level to watch out for:
23KSupport level to watch out for: 19.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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